Mattel beats third quarter earnings and revenue estimates
Julian Close 10/16/2013
Shares of Mattel ( MAT ) are trading higher this Wednesday morning, after the company announced its third quarter results. The company earned $1.21 per share, which beat The Street's estimate by 8%. Revenue was also slightly better than was forecast. Matel further claimed to have experienced growth in every region of the world in the third quarter, including an increase of 4% in European sales, despite Europe's toy industry's having had flat sales.
Mattel ( MAT ) is a global toy company comprising many well known brands including Barbie and Matchbox.
VisionChina ( VISN ) and Abbot Labs ( ABT ) top the list of other companies with positive news today, while Stanley Black and Decker ( SWK ) and Exelon ( EXC ) top the list of companies with negative news.
IK-> The technicals for MAT are bearish with a possible trend reversal. Support and resistance are not clear. The stock is up 3.6% today at $43.06. The company reported earnings today. Look at the January 36/38 bull-put spread for at least a $0.20 credit. USE LIMIT ORDERS. This trade has a target return of 11.1% and the stock has to fall 11.8% to cause a problem. [InvestorsKeyhole, Various news and data services]
Originally published on InvestorsObserver.com